Media experts share the value of their trade
Marlene explained that from a coaching point of view it is recommended that 10 per cent of turnover is what the spend should be on marketing – and this needs to be on the income side of the balance sheet.
Experts in the media industry came on board as guest speakers at the recently held weekly Hirsch’s Entrepreneurs Workshop hosted by the dynamic duo, award-winning businesswomen Margaret Hirsch and business coach Marlene Powell (ActionCOACH).
The panel of media experts at the latest workshop included Anisa Khan – Direct Advertising Sales Manager with The Citizen; Danielle Weakley – an award-winning editor and the creative brains behind a magazine specifically for SMMEs and entrepreneurs, GoHustle; and Brenden Cavanagh – East Coast Radio’s Sales Manager.
Lana Wentik of Hirsch’s cited the key takeaways from the talk. “Traditional media is tried and tested, and is here to stay. Content is still key. People still love listening to the radio and reading magazines and newspapers, and as long as there is a strong tie-in with what is going out on social media, successful campaigns can be held combining the two. Direct advertising has become extremely popular with entrepreneurs and SMMEs, and there must be consistency to help build a brand. Brand equity is vital to keeping customers aware of one’s brand. Hearing an advertising message often is what brings customers flocking in. It’s not a one-fix wonder. Keep an eye on your analytics to see how a campaign is going so you don’t waste money,” she summarised the discussion.
Marlene explained that from a coaching point of view it is recommended that 10 per cent of turnover is what the spend should be on marketing – and this needs to be on the income side of the balance sheet. “It’s all about test and measure. Don’t expect an immediate response, but never stop marketing,” she said.
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